The real estate industry remains alive and well in Boston with not only the market performing exceptionally well, but with the added notion that a great deal of housing units are soon to be built to alleviate the current shortage of available inventory. While much of the news about developments have centered around the Boston Waterfront, Seaport District, Downtown Crossing, The Fenway, and other areas, places like the South End are still attracting a lot of attention from investors.
With massive initiatives such as the Ink Block redevelopment of the former Boston Herald site in the South End being just one of the many improvements slated for this neighborhood, one more is now seeking approval. Nordblom Co., a Burlington, Massachusetts based firm, has recently filed plans for a pair of apartment buildings that are also across from the old Boston Herald site. To be specifically located and known as 345 Harrison Avenue, the developers are hoping to build 369 luxury units within a 14-story building along Harrison Avenue, in addition to 233 extra lovely residential units within a 13-story tower along Washington Street.
Currently, a two-story warehouse for Graybar is in the location of this site. Developers are hoping to demolish this facility and break ground on the two buildings of the 345 Harrison Avenue project during the Second Quarter of 2014. Of course, they need approval first which they anticipate to get a response on in the not too distant future. As a whole, the two towers will encompass 569,400 square feet with 33,500 square feet of that being dedicated to ground floor retail space. The proposal is 279 pages in length and adamantly backs itself in support of the goals that the citys strategic plan for the South End has highlighted. Some of these characteristics include 345 Harrison Avenue:
Introducing a dense urban mix of interactive uses, including 18-hours of restaurant, retail, and residential uses
Building a new pedestrian passageway through the complex
Revitalizing the underutilized urban area by removing the unattractive warehouse
Using land in an efficient manner to connect Chinatown with Downtown Boston
Creating wider sidewalks with streetscape enhancements to make it more attractive for people to walk as opposed to drive and to minimize parking on-site
Providing bicycle racks and amenities
There truly is so much to look forward to in the Greater Boston area. From new apartment and condominium complexes to soaring office buildings, the opening of new stores and restaurant spaces, the redevelopment of parks and public areas, and much more, there clearly is a great deal to be optimistic about regarding not just the present, but also the long-term future for our beloved city here in the Bay State.
More Information: Boston Business Journal